4.1. SR 11-17-2003 - Laserfiche WebLink

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NOV-14-2003 og:Z?AM FROM*'ERMU 763-441-809g %005 P.003/005 F-?80 Regular meeting of the Elk River Mur)_icipal Utilities Co ssion November 12, 2003 5.2 Review Financial Pro}ection~ Bryan Adams reviewed the electric and water income sta assumptions. The electric income statement projections incl~ without. Discussion centered on cash reserves, bonding, and maintain competitive rates. The water side was discussed in growth in WAC units, and sales. Discussion continued betw~ necessary. 5.3 Review _Proposed Water Servi¢{ Line Chan!~e temem projections, using the 2004 budget ~ded one with a $750,000 bond, and one the best ways to keep costs down, and still the same manner, assuming relatively constant :en Commission and Staff. No action · ry,a,n Ad, an~s ad.dressed the~lssuei of qualified water utilit~ personnel repairing water valves in customer service Ames vexore me meter. The se. cond item discussed w~ thc insurance policy, which would pay for ,customer water services that have fai!ed. It was concurred, aider review, that the insurance policy would not ye necessary. Jerry Takle moved to add Utility staff, at owners authori? ~_tion, may replace water valves before water meter..tames Tralle seconded the mqtion. Motion carried 3-~ Commission was advised by Staff,~ that in January, 2004, ~rater personnel would begin stand-by duty. 5.4 Review Finalized Great River E?ergv Wholesale Rate Bryan Adams reviewed changes tb the wholesale electric ~te that was given to the Commission at the October 15, 2003 meeting. (}Pi has ~dopted two rate structures at their November meeting. They have submitted their adopted rates to RUS.i Upon RUS approval, Connexus, and ERMU must submit the approved rate to FERC. Robert McDermot will again be rep~senting ERMU in this matter. Commission and Staff continued discussing rates, ..ks well as production. 5.5 Review & Adopt 2004 Eleetr. ie a~nd Water Budget The finalized 2004 Electric ~d Water Budget was pr~ented to the Commission for discussion. .lames Tralle moved to approv~e the 2004 Electric and Water Budget. Jerry Takle asked about the ac'mai figures for previous/years, and Staff responded that there is a mistake in those history columns. Jol~n Dietz, and James Tral~e asked about the possibility of a bond issue in 2004 for the electric utility, since rate~ are low at this ~ime, D~scussion of the issue followed. Commission, and Staff agreed that the process used for budgeting has been .i;uceessfully completed for 2004, and that the same system be used for future years.I James Tralle withdrew his original motion.